On 21 June, Phoenix UK Fund Ltd announced a mandatory cash offer for Hornby Plc following the acquisition of a 20.86% stake of Hornby from New Pistoia Income Settlement.
Hornby develops, manufactures and supplies hobby and toy products for a global market, with a collection of truly iconic brands spanning model railways, slot racing, die-cast models and plastic model kits. Hornby’s brands include Scalextric, Airfix, Corgi and Hornby.
Phoenix UK Fund is managed by Phoenix Asset Management Partners, a specialist fund management company founded in 1998 By Gary Channon, who acts as Chief Investment Officer. Last year Liberum acted as sole bookrunner on the three placings completed by Aurora Investment Trust, a fund managed by Phoenix.
This is the second public takeover offer Liberum has acted on in 2017.
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- Neil Patel
- Neil Elliot
- Ben Roberts
+44 (0) 20 3100 2000
Liberum advises Volution Group plc (Ticker: FAN LN) on its recommended cash offer today for Energy Technique plc (ETQ LN).
The acquisition is in line with Volution's strategy as it seeks to acquire businesses with well-established brands in heating, ventilation and air conditioning markets where there are favourable structural and regulatory dynamics and with an emphasis on heat recovery systems.
“This proposed acquisition is consistent with our stated strategy of making disciplined and value enhancing acquisitions," Volution CEO Ronnie George said in a statement.
"We believe that ETQ has a strong presence as a supplier to the UK New Build Commercial market which is highly complementary to our strong position in the UK New Build Residential sector," he added.
The transaction is expected to close by the end of the year.
Liberum is sole financial adviser and broker to Volution.
Peter Tracey, Head of Investment Banking
Neil Patel, Investment Banking
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Seedrs will use the capital raised to expand significantly its marketing efforts in the UK and Europe, boost its platform development and expand into the US.
The Seedrs online platform provides a simple, highly professional process that empowers and protects investors while helping businesses raise capital and grow.
"It has been a real privilege to work with Liberum as we built our Series A fundraising round,” said Seedrs CEO and co-founder Jeff Lynn.
“They are true leaders in the alternative finance space, and they have a deep understanding of how businesses like Seedrs are creating value in the financial services ecosystem.
“The Seedrs team and I are very appreciative of the valuable advice, support and introductions they provided us throughout the fundraising process," Mr Lynn added.
“The investment by two such high-quality investors is a deserved endorsement for Seedrs,” Simon Atkinson, Liberum’s Head of Alternative Finance, said.
“Seedrs has from the outset focused on ensuring that investors get professional grade investor protections and can share in the success of the businesses that they provide capital to.
“This was an important factor in our wishing to work with them and is why we can see Seedrs playing a growing role on fundraisings alongside traditional investment banks like ourselves,” Mr Atkinson added.
Call the Liberum team below on +44 (0)20 3100 2000
Press Enquiries: Redleaf Polhill
Liberum is Joint Bookrunner and Global Co-ordinator on today's £50m placing of new ordinary shares in AIM-listed low-cost African airline fastjet plc (Ticker: FJET LN).
The proceeds are to be used to grow fastjet's operations in Tanzania and launch new ones, first in Zambia and Zimbabwe followed by Kenya and South Africa.
The company plans to grow its fleet of leased and owned aircraft to 34 by 2018 from three currently and the new funds raised will help purchase used Airbus A319 aircraft.
Admission and settlement of placing shares is expected April 22 subject to a General Meeting on April 20.
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Volution Group (Ticker: FAN LN), best known for market-leading ventilation brands in the UK and Continental Europe such as Vent-Axia, Torin-Sifan and inVENTer, successfully priced its initial public offering June 18th, giving it a £300 million market capitalisation. Liberum was joint bookrunner on the IPO.
Below: Volution's brands
It is the fifth IPO Liberum has been involved with in the first half of this year and follows CityFibre, Manx Telecom, P2P Global Investments and GAME Digital.
Volution manufactures and supplies ventilation and combustion fans, energy recovery systems, low energy motors and blowers.
It listed on the Premium segment of the Official List and Main Market of the London Stock Exchange.
The offering was priced at 150 pence a share and raised £100m.
“We are delighted to have achieved our objective of an IPO and secured the support of investors for the management team and future plans of Volution,” said Ronnie George, Chief Executive Officer of Volution.
“We will continue to focus on our growth strategy, both organically and by acquisition, providing our customers with market leading ventilation products and our investors with long-term value,” he added.
The Liberum Team consisted of Neil Patel, Richard Bootle and Thomas Bective (Investment Banking), Charlie Campbell (Research Analyst), Jeremy McKeown (Sales), David Parsons (Equity Capital Markets) and Jenni Herbert and Marcio Remedios (Corporate Access).
Contact: George Parrett at Redleaf Polhill for more information:
GAME Digital (Ticker: GMD LN), the leading omni-channel specialist retailer of video games in the UK and Spain, successfully priced its IPO and subsequent listing June 6, 2014 on the Premium segment of the Official List and Main Market of the London Stock Exchange.
Liberum was Joint Bookrunner on the IPO priced at 200 pence a share and which raised £121 million, resulting in a market capitalisation of £340 million. GAME Digital plc will have a free-float of 35.5% with funds managed by Elliott Advisers retaining the majority of the balance.
GAME Digital provides customers with a one-stop shop for video games, consoles and content through stores, online and mobile channels, allowing them to shop anytime, anywhere.
“GAME Digital is a profitable and cash generative business with a great team, strong supplier partnerships and exciting digital growth opportunities," Martyn Gibbs, Chief Executive Officer, said. "These fundamentals have enabled us to attract high quality investors who we welcome into our business."
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Sales: Jeremy McKeown
Equity Capital Markets: David Parsons
Contact: Emma Kane/George Parrett at Redleaf Polhill +44 (0) 20 7382 4747
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